Jason Wenk says his RIA custodian is far ahead of targets as Altruist Advisors beta program draws five times more applicants than expected
While unveiling new portfolio management and direct indexing tools for RIAs, Betterment's Devon Klumb said the firm's advisor referral pilot is intended to convert retail users into RIA clients as their financial needs become more complex.
With a 25% revenue share and $250,000 client minimum, Robinhood Advisor Network pitches a mobile app-based client-to-advisor match pipeline at it plans to soon expand from 16 to 60 independent advisors.
Grimes & Company, a $6.5 billion RIA backed by Joe Duran's Rise Growth Partners, is among the firms participating in the Robinhood Advisor Network client referral program.
The indie RIA-focused custodian adds alternatives from Blackstone, KKR, and others in a fully digital workflow with no custody fees at launch
As Schwab Wealth Advisory pushes toward 30 affluent-market locations and adds hundreds of advisors, some RIAs say the custodian is increasingly competing for the same high-net-worth clients.
The Mather Group will pay Robinhood 25% of revenue from clients referred through Robinhood Advisor Network and custody those assets at TradePMR to reach young investors "who weren’t sitting in anyone’s pipeline."
The challenger RIA custodian's CEO sees more and more G2 advisors leaving aggregator-acquired firms to chase independence — and taking their organic growth with them.
Record trading activity and rising client assets drove the brokerage giant's strongest revenue quarter on record.
“We’re really excited to be serving not just prospects with this model, but also existing advisors,” said Julian Lopez, head of enterprise solutions at Schwab Advisor Services.
Relative newcomer emerges as a bona fide custodial competitor.
Helping the growth of mega-RIAs overshadows technology as a custodial differentiator
With a $2,000 minimum and fractional shares, the custodian is bringing direct indexing to advisors serving client accounts below the traditional six-figure entry point.
New features promise faster analysis of client returns and documents, helping RIAs surface tax insights and produce planning outputs in minutes.
Leaders at Axos and Betterment describe how integrated tech, hands‑on transition support, and modern workflows are helping to win over breakaway advisors.
Nearly 5,700 advisors now use Altruist, which says “many, many advisors” have come to its platform after Schwab's squeeze on its RIA referral program.
As Schwab forces clients to reset credentials to curb third-party access, the 401(k) fintech Pontera maintains "Fidelity stands alone in its decision to lock out thousands of consumers from their own accounts."
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"I think this is the exact time and perfect opportunity for TradePMR and Robinhood to do this because many custodians run retail businesses that compete directly with advisors for end-client relationships," TradePMR's Robb Baldwin told InvestmentNews.
InvestmentNews caught up with Altruist CEO Jason Wenk after his time at Future Proof to discuss the conference, Altruist's deal with Josh Brown's Ritholtz Wealth Management, and Robinhood's planned entry into the RIA custody market.
